IRVINE, CA, January 21, 2012
/24-7PressRelease/ -- Haskell & White LLP, one of Southern California's largest independently owned accounting, auditing and tax consulting firms, will host a roundtable series to address the future of revenue recognition. This initiative stems from recent efforts by the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) to update and converge the financial reporting requirements of International Financial Reporting Standards (IFRS) and U.S. General Accepted Accounting Principles (U.S. GAAP). The next scheduled presentation will occur on Wednesday, January 25 at 11 a.m. at the Hyatt Regency La Jolla at Aventine.
"U.S. revenue recognition guidelines currently differ from international standards, and this proposal will aim to create a universal principle-based standard for reporting revenue," said Wayne Pinnell, managing partner with Haskell & White. "Changes to these standards will have a widespread effect on public companies, private companies and nonprofit organizations. This series will outline some practical ways for business leaders to understand and ultimately implement these new standards."
The roundtable series will address the following core issues:
• An executive summary of the proposed new standard and how it will affect businesses across all sectors
• An action plan for successfully implementing these new standards
• Key milestones and a timeline for the proposed new standards, with an anticipated effective date in 2015 and a retroactive implementation impacting 2013 and 2014 financial statements
• Case studies demonstrating how to use the updated standards
The initial roundtable discussion of the series was held on December 14, 2011 in Orange County, Calif. Haskell & White will provide additional information and resources following the end of the comment period in March 2012 and the anticipated final standard in December 2012.
Online registration for the San Diego roundtable is available at http://www.hwcpa.com or by emailing Meagan Hayes at mhayes@hwcpa.com. An online version of the presentation can be downloaded here.
About Haskell & White LLP
Haskell & White LLP is one of the largest independently owned accounting, auditing and tax consulting firms in Southern California, servicing public and private middle-market companies. With locations in Irvine and San Diego, Haskell & White combines the expansive services, knowledge, experience and reach of national and international accounting firms with the personal attention, responsiveness and value of a local organization. Haskell & White works with companies in a broad range of industries including real estate, manufacturing, distribution, life science, technology, and retail. The firm provides solid expertise and services to its clients in the tax and audit disciplines, including advising SEC registrants and consulting on mergers and acquisitions. Further information on Haskell & White can be found on the firm's website, http://www.hwcpa.com.
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